Property Type

Bradford Allen, Moceri+Roszak Top Out 301-Unit Apartment Complex in Suburban Chicago

by Kristin Harlow April 25, 2025

ARLINGTON HEIGHTS, ILL. — Bradford Allen and Moceri+Roszak have topped out the initial phase of Arlington Gateway, a master-planned community in the northwest Chicago suburb of Arlington Heights. The first phase consists of an eight-story, 301-unit multifamily building with 26,000 square feet of ground-floor retail space. Designed by Thomas Roszak Architecture, the property will offer a mix of studio, one-, two- and three-bedroom floor plans as well as 17,500 square feet of indoor and outdoor amenities. Those include an outdoor pool, fitness center with yoga studio, media rooms, coworking space, a dog walk, golf simulator and grill stations. The exterior of the building will feature green vertical accents that pay homage to the nearby Ned Brown Preserve — also known as Busse Woods — and Illinois prairie aesthetic. The broader development at the 16-acre site also includes a 150,000-square-foot medical office complex that is a conversion of the former Daily Herald offices, and up to two more buildings. Clark Construction is the general contractor. Completion is slated for the first quarter of 2026.

April 25, 2025

Development Michigan Midwest Multifamily

Gibbs Planning Group Proposes New Multifamily Development in Pittsfield Township, Michigan

by Kristin Harlow April 25, 2025

PITTSFIELD TOWNSHIP, MICH. — Gibbs Planning Group has proposed Sutherland Square, a neighborhood multifamily development in Pittsfield Township, just south of Ann Arbor. The walkable community will feature cottages, loft and townhomes, apartments, duplexes and larger family homes with varying price points and amenities as well as shops and offices clustered around a town square. Many of the homes will be designed for the “missing middle,” which refers to affordable housing options for renters and buyers. The proposed community is fully engineered and shovel ready. The neighborhood will be the Ann Arbor area’s first new urban community and one of only 10 built in Michigan in the post-World War II era, according to Gibbs. Sutherland Square is based on the concepts of New Urbanism, a planning movement co-founded by Robert Gibbs to promote traditional neighborhoods as an alternative to suburban sprawl. Traditional neighborhoods offer a variety of housing options all located in a walkable village setting. Sutherland Square will be located along State Road, four miles south of downtown Ann Arbor and nearby to the University of Michigan and Google office. Housing choices will include options for young, first-time renters, families, empty nesters and retired seniors. Sutherland Square will provide …

April 25, 2025

Illinois Leasing Activity Life Sciences Midwest

Grove Biopharma Leases Headquarters, R&D Space at Fulton Labs in Chicago

by Kristin Harlow April 25, 2025

CHICAGO — Grove Biopharma has leased space for its headquarters and research and development (R&D) lab at 400 North Aberdeen in Chicago’s Fulton Market neighborhood. Trammell Crow Co. (TCC) owns the property, which is part of the Fulton Labs development. Grove Biopharma is a preclinical biotechnology startup that previously operated out of Portal Innovation’s Fulton Labs location. The startup recently closed a $30 million Series A financing round and is now moving into its own space within a 17,000-square-foot Science-Ready Lab suite. “Grove Biopharma is the perfect example of the thesis we planned our Fulton Labs campus around. It’s a company that spun out of Northwestern, then moved to Portal Innovations for incubation and the support ecosystem and is now moving into a large Science-Ready Lab suite to accommodate further growth,” says Morgan Baer Blaska, vice president with TCC Midwest. “In the past, a company on this growth trajectory would have considered moving to one of the coasts, but both Portal and Fulton Labs have provided an environment where science startups can grow and thrive here in Chicago.” Founded in 2020, Grove Biopharma is pioneering its Bionic Biologics platform to develop therapies targeting previously intractable intracellular disease targets. Dan Lyne …

April 25, 2025

Acquisitions Midwest Missouri Retail

Marcus & Millichap Brokers $3.9M Sale-Leaseback of Retail Property in Wentzville, Missouri

by Kristin Harlow April 25, 2025

WENTZVILLE, MO. — Marcus & Millichap has brokered the $3.9 million sale-leaseback of a retail property occupied by Dobbs Tire & Auto in Wentzville, a suburb of St. Louis. Built in 2003, the 7,918-square-foot building is located at 1986 Wentzville Parkway. Ken Jacobsmeyer of Marcus & Millichap procured the buyer, a Missouri-based limited liability company.

April 25, 2025

Acquisitions Illinois Midwest Multifamily

Interra Realty Arranges Two Multifamily Sales on Chicago’s Northwest Side

by Kristin Harlow April 25, 2025

CHICAGO AND NORRIDGE, ILL. — Interra Realty has arranged the sale of two multifamily buildings on the northwest side of Chicago. Each property sold for $1.4 million. The assets are located at 3913 N. Central Ave. in Chicago’s Portage Park neighborhood (eight units) and 4255 N. Neva Ave. in Norridge (nine units). Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented both the private seller and confidential buyer of the Portage Park property. The trio also represented a local partnership in the acquisition of the Norridge asset. Richard Dawidiuk of RE/MAX Legends represented the private seller. Both buildings were fully occupied at the time of sale. The Norridge property last traded hands 25 years ago, and this is the first time the Portage Park building has sold since its construction in 1969. The Norridge property was built in 1963.

April 25, 2025

150-Minuteman-Road-Andover-Massachusetts

Acquisitions Massachusetts Northeast Office

Newmark Brokers Sale of 112,418 SF Office, Life Sciences Building in Andover, Massachusetts

by Taylor Williams April 25, 2025

ANDOVER, MASS. — Newmark has brokered the sale of 150 Minuteman Road, a 112,148-square-foot office and life sciences building in the northern Boston suburb of Andover. The building is one of six within the 1 million-square-foot Minuteman Park campus and was fully leased at the time of sale to global medical technology company Smith + Nephew. Institutional investment firm BentallGreenOak (BGO) sold the building to Optimum Asset Management for an undisclosed price. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark brokered the deal.

April 25, 2025

Connecticut Leasing Activity Northeast Office

Cushman & Wakefield Negotiates 22,000 SF Office Lease in Wilton, Connecticut

by Taylor Williams April 25, 2025

WILTON, CONN. — Cushman & Wakefield has negotiated a 22,000-square-foot office lease in the southern coastal Connecticut community of Wilton. The tenant is Strong Start Early Care and Education, and the space is located within the freshly renovated building at 187 Danbury Road. Adam Klimek and Steve Baker of Cushman & Wakefield represented the landlord, Time Equities Inc., in the lease negotiations. The representative of the tenant was not disclosed.

April 25, 2025

Leasing Activity New York Northeast Office

Treville Capital Group Signs 18,412 SF Office Lease in Midtown Manhattan

by Taylor Williams April 25, 2025

NEW YORK CITY — Treville Capital Group has signed a 10-year, 18,412-square-foot office lease in Midtown Manhattan. The investment and financial services firm is relocating from 437 Madison Avenue to the eighth floor of 477 Madison Avenue, a 24-story building that recently underwent a capital improvement program. Peter Michailidis of JLL represented the tenant in the lease negotiations. Arkady Smolyansky and Alex D’Amario of CBRE represented the landlord, RFR.

April 25, 2025

Development Loans Multifamily Texas Top Stories

Carbon Cos., Greenway Receive $125M in Construction Financing for Multifamily Project in Frisco, Texas

by Channing Hamilton April 25, 2025

FRISCO, TEXAS — Carbon Cos. and Greenway Investment Co. have received roughly $125 million in construction financing for The Links on PGA Parkway, an apartment community located about 30 miles north of Dallas in Frisco. The debt, which was arranged by the Carbon Cos. internal team, will be used to complete the construction of the final two phases of the four-phase, 38-acre development. The financing includes a syndicated bank loan facility and mezzanine loan. Origin Bank arranged the syndicated bank loan, with participant banks including Simmons Bank, North Dallas Bank & Trust CO, b1Bank and Century Bank. Once fully completed in 2027, The Links on PGA Parkway will total 1,310 residential units. The first two phases of the development, which opened in December 2021 and October 2023, delivered 690 apartments and a two-acre city park. Phases III and IV will add an additional 620 apartments, as well as 815 underground parking spots. Last fall, ownership secured a $138.3 million loan from MF1 Capital for the refinancing of Phase I of the development. Phases I and II of the development feature a mix of one, two, and three-bedroom floor plans. Community amenities include two pools with outdoor lounges, two clubhouses, two …

April 25, 2025

Development Multifamily North Carolina Southeast

Capital Square Opens 20-Story Maeve Apartment Tower in Raleigh

by John Nelson April 24, 2025

RALEIGH, N.C. — Capital Square has opened Maeve, a 20-story multifamily tower located at 319 W. Lenoir St. in Raleigh’s Warehouse District. The high-rise includes 297 apartments and approximately 10,000 square feet of street-level retail space. Maeve offers studio, one-, two- and three-bedroom apartments, as well as a double-height lobby and 30,000 square feet of amenities, including a resort-style pool and rooftop lounge. Monthly rental rates range from $1,695 to $7,515, according to Apartments.com. Project partners for the tower included architect JDAVIS Architects, general contractor W.M. Jordan Co., landscape designer EDSA, equity partner FrontRange Capital Partners and construction lender First National Bank of Pennsylvania. Greystar is managing Maeve, and York Properties is overseeing the tower’s retail leasing assignment.

April 24, 2025

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